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Nov 30, 2012
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we're looking at what the white house is offering to stop the fiscal cliff stalemate. drastic mandatory tax hikes and spending cuts will kick in with the new year unless, unless the white house and republicans can reach a deal. for weeks, gop lawmakers have said we're just waiting for the white house to give details, specifics, some numbers. well, tonight that's happened. the white house is calling their bluff and they've laid out how they want to cut the debt. jessica yellin is over at the white house for us tonight with new developments. jessica, what are the specifics of this offer tonight? >> reporter: hi, wolf. according to senior officials on both sides of the aisle, the president is asking for $1.6 trillion in new taxes. that includes raising taxes for families who make $250,000 or more. you'll recognize that as a pledge from his campaign. and it also includes limiting deductions and loopholes as well as other changes to capital gains and dividends taxes. well, that is the headline for republicans, wolf, who say it is far more money in tax rates than they ever e
we're looking at what the white house is offering to stop the fiscal cliff stalemate. drastic mandatory tax hikes and spending cuts will kick in with the new year unless, unless the white house and republicans can reach a deal. for weeks, gop lawmakers have said we're just waiting for the white house to give details, specifics, some numbers. well, tonight that's happened. the white house is calling their bluff and they've laid out how they want to cut the debt. jessica yellin is over at the...
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house plan to avoid the fiscal cliff. this is the opening play by the president. here is house speaker john boehner who says that weeks of talks have gone nowhere. melissa: two weeks ago we had very product testify conversation at the white house but based on where we stand today i would say two things. first, despite the claims that the president supports a, a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. bill: the speaker considers that just absolutely wasted time. kentucky democratic congressman john yarmouth out of louisville is a member of the house budget committee, sir, thank you for your time. i want to get your perspective on this. good morning to you. melissa: good morning, bill. bill: republicans are not happy. what would you say to your colleagues there? they're charging none of this addresses the problem and the problem they believe is not taxes,
house plan to avoid the fiscal cliff. this is the opening play by the president. here is house speaker john boehner who says that weeks of talks have gone nowhere. melissa: two weeks ago we had very product testify conversation at the white house but based on where we stand today i would say two things. first, despite the claims that the president supports a, a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made...
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Nov 29, 2012
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also had fiscal cliffs survival kit home additions that you contain right now to prepare. dennis: blamed superstorm sandy. retailers playing the blame game for week november same store sales. analysts already asking what it really the storm or the economy did pull those numbers down? cheryl: we are watching a power ball conference this hour with more details expected on the two winners of the $580 million record jackpot from missouri and arizona. of gone home to buy my ticket. dennis: stocks every 15 minutes, nicole petallides, for the stock exchange where stocks the suddenly lower on more cliffphobia. nicole: i can say in the wall street traders saying every headline out of washington moving this market, fiscal cliff phobia is a good way to say it, whatever you want to call it we have seen so many dramatic moves in the market, a particular companies making moves in preparation or all been wary about the fiscal cliff, let's see where we are, talking about a dollar jumping, positive for the weekend all up arrows and a great day on wall street after yesterday when tim geithn
also had fiscal cliffs survival kit home additions that you contain right now to prepare. dennis: blamed superstorm sandy. retailers playing the blame game for week november same store sales. analysts already asking what it really the storm or the economy did pull those numbers down? cheryl: we are watching a power ball conference this hour with more details expected on the two winners of the $580 million record jackpot from missouri and arizona. of gone home to buy my ticket. dennis: stocks...
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Dec 3, 2012
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cliff. > >> i said you can't be serious. we have 7 weeks went election and the end of the year and three those weeks have been wasted. bill: flabbergasted, rich. wasting time. three weeks gone by. >> well, yeah, i think this offer speaks more to a desire on the part of the white house to break and humiliate republicans than it does to have a serious negotiation. on the other hand way these things work. you can pretty much go to sleep until right at the end, then it's days before it's goark yaitd. but it wouldn't surprise me if we do go over the cliff. they should pass an extension of all these tax cuts, make it clear they want to keep them for everyone including have much for the middle class. john boehner should say we passed this out of the house. let's see harry reid and the democrats pass this out of the senate. bill: i get the impression both sides are miles apart from the deal. and i'm told by smart people i'm dead wrong on that. are you of mind a or mind b, rich? >> i don't think ther
cliff. > >> i said you can't be serious. we have 7 weeks went election and the end of the year and three those weeks have been wasted. bill: flabbergasted, rich. wasting time. three weeks gone by. >> well, yeah, i think this offer speaks more to a desire on the part of the white house to break and humiliate republicans than it does to have a serious negotiation. on the other hand way these things work. you can pretty much go to sleep until right at the end, then it's days before...
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Nov 30, 2012
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it's where he will also talk about his plan to avert the so-called fiscal cliff. comments yesterday from house speaker john bohener hinted lawmakers are back to square one on settling the cliff chatter. "no subsantive progress has been made in the talks between the white house and and the house over the last two weeks." the stock market briefly sold off on boehner's comments, but then bounced back. optimism had been growing after president obama and representative boehner made remarks wednesday that a deal could be worked out. now speaker boehner insists there are still many roadblocks in the way. last night, boehner offered no details but rejected the democrats' $4-trillion plan presented by treasury secretary timothy geithner. investors have a more optimistic view on the global economy. a new survey by bloomberg shows 2/3 of investors surveyed described the worldwide economy has either stable or improving. overall, they considered the global economy to be in the best shape in 18 months. when asked which countries will offer the best investing opportunities for n
it's where he will also talk about his plan to avert the so-called fiscal cliff. comments yesterday from house speaker john bohener hinted lawmakers are back to square one on settling the cliff chatter. "no subsantive progress has been made in the talks between the white house and and the house over the last two weeks." the stock market briefly sold off on boehner's comments, but then bounced back. optimism had been growing after president obama and representative boehner made remarks...
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Dec 5, 2012
12/12
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[farting sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from the right particularly from jim demint of south carolina, tea party leader and as such, represented more of a compromise than obama's stance. uh no! nice try. demint said boehner's plan will destroy american jobs and allow politicians in washington to spend more. oh, please we're not falling for this. they think if they criticize the plan, oh, well it must be a good compromise then. nice try! 29 minutes after the hour. spongebob squarepants tom kenny, our buddy our pal next on "the stephanie miller show." when the last card is played what will be remembered? explore the lives of the famous and infamous who changed our world
[farting sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from...
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when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects of a deal until the g.o.p. gives in on their demand for more tax money. >> what is lacking are the revenues. we cannot cut your way to deficit reduction. what reduces the deficit are jobs. job creation. after spending cuts, and medicare saving, and next is the revenue. >>reporter: leader pelosi spent time at the white house today meeting with president obama on what we are told are a number of issues. >>shepard: thank you, mike, from washington, dc. we know that business collects information from us when we go to our website our mobile apps. usually it is legal. there is a new law that requires companies to notif
when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another week. >>reporter: he calls officials saying they are ready to go over the trip. >>shepard: democrats insist that revenue, revenue, revenue is the key. >>guest: president obama campaigned on it and obviously won and democrats insist upper income americans should pay higher taxes but there could be room to negotiate but their point is they don't want to talk about other aspects...
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fiscal cliff talks. here is "the new york times" -- in the "financial times" this morning -- roger altman writing today in "the financial times." president obama will be meeting with several governors today at the white house to talk about the fiscal cliff. they will be meeting this morning around 10:00 a.m. eastern time, and then the governors are slated to hold a news conference at around 11:30 a.m. eastern time. go to our website for more details. washington insiders tackle fiscal cliff policy solutions. the group will hold a roundtable discussion today on the importance of reform to address the nation's debt and deficit spending this event takes place this morning around 8:30 a.m. eastern time. go to our website for all our coverage of the fiscal cliff talks. we have a web site set up so you can follow along on our special page for these fiscal cliff talks. back to your phone calls. good morning, doris. caller: good morning. the plan that the republicans offered, this is just the romney-ryan plan tha
fiscal cliff talks. here is "the new york times" -- in the "financial times" this morning -- roger altman writing today in "the financial times." president obama will be meeting with several governors today at the white house to talk about the fiscal cliff. they will be meeting this morning around 10:00 a.m. eastern time, and then the governors are slated to hold a news conference at around 11:30 a.m. eastern time. go to our website for more details. washington...
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last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wantsa $1.6 trillion tax inease, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the same old, same old. the president has been making the same comments again. is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, t means that those that are negotiating, such as secretary geithner,they probably don't feel bound by what the president is saying. thi
last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wantsa $1.6 trillion tax inease, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not...
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fiscal cliff" stepping up phone calls and meetings within the last 24 hours. cbs reporter danielle nottingham is on capitol hill where the two sides are still talking. >>> reporter: president obama dispatched his chief negotiator tim geithner to capitol hill to work on a "fiscal cliff" deal. house speaker john boehner came out of his meeting with the treasury secretary demanding the white house get serious about spending cuts. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> reporter: if a compromise isn't reached soon, automatic tax hikes and steep budget cuts will kick in january 1. geithner moved from one end of the capitol to the other encouraging lawmakers to sign off on an extension of middle class tax cuts now. democrats say their position is clear and they want a serious offer from republicans. >> the american people want us to avoid the "fiscal cliff" with a balanced approach. >> reporter: geithner is here in the halls of congress trying to clear some big hurdles with republicans.
fiscal cliff" stepping up phone calls and meetings within the last 24 hours. cbs reporter danielle nottingham is on capitol hill where the two sides are still talking. >>> reporter: president obama dispatched his chief negotiator tim geithner to capitol hill to work on a "fiscal cliff" deal. house speaker john boehner came out of his meeting with the treasury secretary demanding the white house get serious about spending cuts. >> no substantive progress has been...
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i think you'll see something a lot different in the fiscal cliff negotiations from the white house than you saw in say the government shut down negotiations a year ago. you are going to see a much more campaigning, much more campaign-like president obama in the next month. jon: you know, some sort of even partial -- neutral observers are saying that the obama campaign won in part because they did a much better job of harnessing the power of social media in this election and driving their voters to the polls. if that succeeded for them in the election, can they do it when it comes to governing? can they make the country, you know, embrace tax increases, for instance. >> yeah it's a huge question. i think there are folks who think that it can work the same way. there are a lot of others who really question whether or not those sorts of tactics, and, you know, the list and voter contacts that ofa built in a campaign context, do they work on capitol hill and governing. there are some doubts there but i don't think there is any doubt that the white house has chosen this course and we are goi
i think you'll see something a lot different in the fiscal cliff negotiations from the white house than you saw in say the government shut down negotiations a year ago. you are going to see a much more campaigning, much more campaign-like president obama in the next month. jon: you know, some sort of even partial -- neutral observers are saying that the obama campaign won in part because they did a much better job of harnessing the power of social media in this election and driving their voters...
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. >>> there's been a lot of tough talk from the white house today about the fiscal cliff. treasury secretary, tim geithner said the administration is quote, absolutely ready to let the economy go over that cliff, rather than drop the higher tax rates for top earners. president obama also told a group of ceos, he won't republicans inject the threat of a government default into the current negotiations. >> that is a bad strategy for america. it is a bad strategy for your businesses, and it is not a game that i will play. >> in spite of the rhetoric, president obama and house speaker john boehner did speak by phone today for the first time in days. neither side is revealing what they discussed. >>> on wall street, stocks ended mixed with a fiscal cliff. the dow industrials gained 82 points amid optimism about a deal in washington perhaps in the next week. the tech heavy nasdaq fell 22 led lower by apple. its shares were 6% lower. apple's largest loss in a year. apple shares lost $37 to close at 538 and change. still apple stock is up more than $100 since the start of the year
. >>> there's been a lot of tough talk from the white house today about the fiscal cliff. treasury secretary, tim geithner said the administration is quote, absolutely ready to let the economy go over that cliff, rather than drop the higher tax rates for top earners. president obama also told a group of ceos, he won't republicans inject the threat of a government default into the current negotiations. >> that is a bad strategy for america. it is a bad strategy for your...
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dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion in stimulus spending. democrats see this really as sort of the opening salvo in these negotiations. early on in this process, both sides appear to show some level of optimism that this would get done. in the last few days and certainly yesterday it just seems like both sides are so far apart, it's not unusual for us to see this kind of posturing and other negotiations, tough negotiations over the last four years or so. you'll see things build up whether it appears that it's going to get done. then they fall apart. in the end it does happen
dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare....
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fiscal cliff counteroffer. he says that republicans can't negotiate with themselves however the president has been very clear very publicly that the g.o.p. plan is definitely a no-go as is. crossroads gps part of the karl rove funded group of campaign super pacs is spending half a million dollars on a new ad campaign to push for a fiscal cliff deal that includes more spending cuts and fewer higher taxes. >> so far he says more taxes. >> the truth is the white house deal did propose some $600 billion in healthcare and spending cuts. finally, secretary of state ken says he will investigate the state's voting problems. the republican in florida told the state ethics and elections committee he will dispatch a special team to investigate the five florida counties that had especially-long lines. right after it he defended florida's voting mess saying he had no regrets. wewewewewewewewewewewewewewewewewewewewewewewewewewewewewewe on to me now? you know the the kind of guys that do reverse mortgage commercials? those t
fiscal cliff counteroffer. he says that republicans can't negotiate with themselves however the president has been very clear very publicly that the g.o.p. plan is definitely a no-go as is. crossroads gps part of the karl rove funded group of campaign super pacs is spending half a million dollars on a new ad campaign to push for a fiscal cliff deal that includes more spending cuts and fewer higher taxes. >> so far he says more taxes. >> the truth is the white house deal did propose...
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public opinion on their side over negotiations against house republicans on the so-called fiscal cliff. the president himself tweeted out plans for the q and a a short time ago saying he'll answer questions about the cliff, his proposal and pending tax hikes on the official white house twitter feed. press secretary jay carney insisted the white house is still optimistic it can reach a deal with congressional republicans. >> there has been progress, and we can achieve a bipartisan agreement. the obstacle remains at this point the refusal to acknowledge by republican leaders that there is no deal that achieves the kind of balance that is necessary without raising rates on the top 2%. >> and there are just 29 days to go for the two parties to find some sort of middle ground, and joining me now from the white house nbc news correspondent kristen welker. what's the back story on this it twitter q and a for the president, which should start any minute now? >> reporter: that's right. this is part of president obama's full court press to get the public on board to pressure republicans to sign
public opinion on their side over negotiations against house republicans on the so-called fiscal cliff. the president himself tweeted out plans for the q and a a short time ago saying he'll answer questions about the cliff, his proposal and pending tax hikes on the official white house twitter feed. press secretary jay carney insisted the white house is still optimistic it can reach a deal with congressional republicans. >> there has been progress, and we can achieve a bipartisan...
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Nov 29, 2012
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the big story is still and will remain the fiscal cliff. every time a policymaker on capitol hill or in the white house makes a speech about this or a station to the media, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well be some progress on a compromise. that flies in the face of harry reid saying little progress is made. that is what is driving the u.s. markets and the global markets as well. the fed's beige book says there is a tepid growth. you have the housing market against that manufacturing and superstorm sandy. interesting stats expected out of the auto sectors. this could be good news. we think there may ab a pace of somewhere in the region of 15.2 million cars sold in november. the fact is that americans got very old fleet of cars. the average age of car now
the big story is still and will remain the fiscal cliff. every time a policymaker on capitol hill or in the white house makes a speech about this or a station to the media, the markets move very aggressively. yes, there is a case in point where boehner and obama said there was progress that could be made towards a compromise. the markets turn around to 220 points on the dow. but on 20 points and the dow having been down 110 closed up 106 points. that's because john boehner said they could well...
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there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by progra
there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and...
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to pay higher tax rates. >> the fiscal cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are increase in spending with a new stimulus. this is almost unheard of. what do they expect? they obviously expect they will cave on everything. i think they ought to simply walk away. the president is the president. he is the leader. they are remanning republicans explain all of the cuts they want to mac. we had that movie a year and a half ago where paul ryan presented a budget a serious real budget with real cuts, obama was supposed to give a speech in which he would respond with a counteroffer. he gave a speech we had ryan sitting in the front row. he called the ryan proposal unamerican offered not
to pay higher tax rates. >> the fiscal cliff deal, charles krauthammer is talking about it. he calls it quote insulting. >> it's not just a bad deal. what geithner offers on the street robert e. lee was offered easier terms and he lost the civil war. democrats won by 3 percent of the voeft and they did not hold the house. republicans won the house. this is not the condition of surrender but that's what the administration is asking the republicans. they are not only cuts there are...
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we are four weeks away from going over that fiscal cliff. so far republicans are sticking to their guns. the white house is stepping up negotiations. tim geithner is set to meet top leaders to look closer at the numbers. mike em an mule has more from capitol hill. >> there's a great discussion about raising taxes. many talk about entitlement reform but with the nation's debt at 16 trillion and counting we asked lawmakers what they are willing to cut to get a deal. >> republicans offered a plan to avoid the fiscal cliff through significant spending cuts. >> we put revenue on the table as long as it's accompanied serious spending cuts to avert the crisis. >> the bipartisan bowl deficit plan had savings worth pursuing. >> they identified $1.1 trillion tax expenditures, benefits, deductions, credits and the like that could be cut as part of a grand bargain. i think we ought to look at that flat ten the code simplify it. >> harry reid told reporters yesterday he would like to get credit for what congress has previously cut. >> we have already don
we are four weeks away from going over that fiscal cliff. so far republicans are sticking to their guns. the white house is stepping up negotiations. tim geithner is set to meet top leaders to look closer at the numbers. mike em an mule has more from capitol hill. >> there's a great discussion about raising taxes. many talk about entitlement reform but with the nation's debt at 16 trillion and counting we asked lawmakers what they are willing to cut to get a deal. >> republicans...
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. >>> there's been a lot of tough talk from the white house today about the fiscal cliff. treasury secretary, tim geithner said the administration is quote, absolutely ready to let the economy go over that cliff, rather than drop the higher tax rates for top earners. president obama also told a group of ceos, he won't republicans inject the threat of a government default into the current negotiations. >> that is a bad strategy for america. it is a bad strategy for your businesses, and it is not a game that i will play. >> in spite of the rhetoric, president obama and house speaker john boehner did speak by phone today for the first time in days. neither side is revealing what they discussed. >>> on wall street, stocks ended mixed with a fiscal cliff. the dow industrials gained 82 points amid optimism about a deal in washington perhaps in the next week. the tech heavy nasdaq fell 22 led lower by apple. its shares were 6% lower. apple's largest loss in a year. apple shares lost $37 to close at 538 and change. still apple stock is up more than $100 since the start of the year
. >>> there's been a lot of tough talk from the white house today about the fiscal cliff. treasury secretary, tim geithner said the administration is quote, absolutely ready to let the economy go over that cliff, rather than drop the higher tax rates for top earners. president obama also told a group of ceos, he won't republicans inject the threat of a government default into the current negotiations. >> that is a bad strategy for america. it is a bad strategy for your...
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. >>> apparent progress in the so-called fiscal cliff talks. it appears both sides may be digging in their heels. nbc's mike viqueira joins me from the white house with the very latest. if there's anything new to report. seems like everyone is in their own separate corners, mike. >> reporter: it's no longer november. this is december 1st. it's a new month, the last month before we go over the fiscal cliff. now both sides after a lot of bipartisan talk of compromise in that post-election period, alex, it turns out what we have now a typical washington standoff. >> the president of the united states. >> reporter: visiting a toy factory outside philadelphia, the president urged congress to act and avoid the fiscal cliff. if not, he says, taxes go up for everyone, including the middle class. >> it's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: with the election over the president has begun a new kind of campaign, for votes in congress. a series of white house meetings with business leaders, a grassro
. >>> apparent progress in the so-called fiscal cliff talks. it appears both sides may be digging in their heels. nbc's mike viqueira joins me from the white house with the very latest. if there's anything new to report. seems like everyone is in their own separate corners, mike. >> reporter: it's no longer november. this is december 1st. it's a new month, the last month before we go over the fiscal cliff. now both sides after a lot of bipartisan talk of compromise in that...
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he was asked flat out is the white house ready to go over the fiscal cliff and boom he says, absolutely, as if that is a good thing. i mean there are defense contractors who are going to be laying off workers, there are all kinds of negative ramifications to all of this. but the white house apparently is ready to take the jump. >> well, they are certainly ready to say it. the republicans have a weaker hand than i thought they would originally have about a couple months ago, but the idea that president obama wants to start his second term by plunging the country into a recession, a huge sell off in the stock market, and by being perceived as generally sort of willing to play chicken with the economy doesn't sound like a brilliant political move to me. jon: you think that's all talk? >> i think it's a game of chicken, i really do. i think that the republicans would probably get a lot of blame in the beginning, and that's maybe what they are thinking of and they are trying to scare the republicans, but over the long term there is just no way this administration wants to go overt fisca over
he was asked flat out is the white house ready to go over the fiscal cliff and boom he says, absolutely, as if that is a good thing. i mean there are defense contractors who are going to be laying off workers, there are all kinds of negative ramifications to all of this. but the white house apparently is ready to take the jump. >> well, they are certainly ready to say it. the republicans have a weaker hand than i thought they would originally have about a couple months ago, but the idea...
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republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of ambassador anna wintour. i couldn't wait for the normal time. i'm going to do it early. stay right there. and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. that's why ally has ia raise your rate cd.n. ally bank. your money needs an ally. stuart: california high taxes, strict green laws, a liberal supermajority in the statehouse, not exactly business friendly. that's why so many businesses are leaving. they are going to places like phoenix. so we're going to talk to the mayor of phoenix. greg stanton, what is he offering to the california refugees to get them t
republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of ambassador anna wintour. i couldn't wait for the normal time. i'm going to...
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the obama administration is fully prepared to go off that fiscal cliff if republicans don't agree to tax hikes on the wealthiest americans. let's bring in congressional correspondent kate bolduan. the white house won't budge on taxes. the republican led house takes a break. can you make sense of this for us? >> i think that's a little above any of our pay grade trying to make sense of it all other than it seems that it's one more fight that we've seen over and over again and we are seeing once again it play out almost as it appears slow motion, carol. you mention the call between speaker boehner and president obama. they may have talked. no read out of the call per se. we are still a long way away from a deal that is for sure. why? because at its most basic neither side is giving on their primary position. president obama continues to insist over and over again any deal must include a tax rate increase on the top 2% of wage earners which republicans just as firmly insist is a nonstarter. today the president is going to continue his public pressure campaign according to the white hous
the obama administration is fully prepared to go off that fiscal cliff if republicans don't agree to tax hikes on the wealthiest americans. let's bring in congressional correspondent kate bolduan. the white house won't budge on taxes. the republican led house takes a break. can you make sense of this for us? >> i think that's a little above any of our pay grade trying to make sense of it all other than it seems that it's one more fight that we've seen over and over again and we are seeing...
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cliff and shortly after the white house and the democrats answered that the republicans had not offered any of their own plans. is this something that's going to be able to be taken care of while you're still a representative or is it going to land in your lap when you move to the other chamber? >> you know, i hope we get it done, obviously. we want to avoid the cliff. it is a little troubling that we don't have any real plans or offers on the spending side. i think on the revenue side it's pretty clear by knew republicans are willing to give up more revenue, but we've got to see a balance. there's got to be spending cuts and if those have been offered, i'm not sure what they are. >> suarez: are you one of those members who's staked out a position on whether it has to be rates or effective revenue and not rates? >> well, i think it can be effective revenue. obviously it depends on where you put the level of deductions that can be taken. so i'd rather not raise rates at all. i think it can be done without that. but certainly additional revenue is going to be required. >> suarez: the man
cliff and shortly after the white house and the democrats answered that the republicans had not offered any of their own plans. is this something that's going to be able to be taken care of while you're still a representative or is it going to land in your lap when you move to the other chamber? >> you know, i hope we get it done, obviously. we want to avoid the cliff. it is a little troubling that we don't have any real plans or offers on the spending side. i think on the revenue side...
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and you found that at the white house today where he gave a speech talking about the fiscal cliff, introducing the hashtag-- which is a way of grouping something-- my2k, which is a playoff of waoeubgt, ther of y2. he's saying if you don't do something you are going to have to pay as middle-class taxpayers, $2,000 allegedly. >> if congress doesn't stop the automatic tax hikes. >> brown: but this was in the context of a whole week where he's making his play, right? but doing it online? >> it's fascinating with the president of the united states building it around a twitter campaign, we've come to take that for granted but i did a little search for this my2k. on twitter. barack obama comes up second. you know what comes up first? the conservative heritage foundation which bought a promoted tweet, which means theirs goes to the top of the list and it says "four reasons why warren buffett" the ally of the white house on this "is wrong on tax hikes." >> but the interesting something that now any time anyone types up on twitter "my2k" which was a white house-created hashtag, you get the heritage foun
and you found that at the white house today where he gave a speech talking about the fiscal cliff, introducing the hashtag-- which is a way of grouping something-- my2k, which is a playoff of waoeubgt, ther of y2. he's saying if you don't do something you are going to have to pay as middle-class taxpayers, $2,000 allegedly. >> if congress doesn't stop the automatic tax hikes. >> brown: but this was in the context of a whole week where he's making his play, right? but doing it...
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in the fiscal cliff negotiations. let's take a look at the gop offer. this is their version. it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the house majority whip. congressman, welcome. good to see you this morning. >> thanks for having me. martha: so you put your number out there, you know, all kinds of response across the board this morning saying that it is, you know, equally laughable, ridiculous. there's no way that the white house is going to counter that offer. what do you think about that? >> well, i think that's sad, because think about what this president said when he campaigned. he said he wanted a balanced approach. he said he wanted 800 billion in revenue a
in the fiscal cliff negotiations. let's take a look at the gop offer. this is their version. it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the...
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says white house offer on fiscal cliff is unbalanced. bret, tell me i'm wrong here, it seems like the media is setting unto blame the republican for this outrageous offer from the president, go. >> what's the offer? what? >> a massive tax increase, no entitlement reform and no restraint on borrowing. now, there's an offer. >> in other words, in other words, there's no plan. this should be a story that the whole debate has been going on for two years about having a package of spending cuts to go along with the package of tax increases. and now, we've got the senate saying, that the one problem, entitlements is now off the table, and meaning they're no longer serious and the white house saying we don't have plans to cut anything. in other words, there is no plan. that should be the story. and just like, stuart, the entirety of 2012 campaign. nobody brought up that the barack obama didn't have a plan the entire-- it's mind-boggling. stuart: i'm looking at the so-called offer, if implemented would put mesh-- measured america straight into re
says white house offer on fiscal cliff is unbalanced. bret, tell me i'm wrong here, it seems like the media is setting unto blame the republican for this outrageous offer from the president, go. >> what's the offer? what? >> a massive tax increase, no entitlement reform and no restraint on borrowing. now, there's an offer. >> in other words, in other words, there's no plan. this should be a story that the whole debate has been going on for two years about having a package of...
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we have mike at the white house with more. >> reporter: exactly one month ago to avoid the fiscal cliff and after a period of optimism and what we have right now is a typical white house standoff. visiting a toy factory outside philadelphia, president urged congress to act and avoid the fiscal cliff. if not, taxes go up for everyone, including the middle class. >> that is like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: the president has started a new campaign for votes in congress. a grassroots effort on twitter and a friday trip in swing distri districts. allow rates to rise on the upper 2% of earners while extending lower rates for everyone else. >> it is not acceptable for you for the handful of republicans and democrats in congress to hold tax cuts hostage because they don't want tax rates to go up on upper income folks. >> reporter: mr. obama's opening bid includes $1.6 trillion in new revenue. half from higher rates in the wealthy. cuts in medicare and $50 billion in new infrastructure spending. when tim geithner laid out the plan for mitch mc
we have mike at the white house with more. >> reporter: exactly one month ago to avoid the fiscal cliff and after a period of optimism and what we have right now is a typical white house standoff. visiting a toy factory outside philadelphia, president urged congress to act and avoid the fiscal cliff. if not, taxes go up for everyone, including the middle class. >> that is like the lump of coal you get for christmas. that's a scrooge christmas. >> reporter: the president has...
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the white house is sending representatives to capitol hill to find a solution for the impending fiscal cliff today. republicans complained the white house has yet to provide specifics about how the president would curve the rapid growth of programs like medicare and medicaid. the president is insisting that tax rates go up on families will accede to under $50,000 a year. house speaker john banar is adamant that any tax revenues come from overhauling the tax code. clearing tax breaks and lowering rates for everyone. >> two tickets last night. one was sold in arizona one was sold in missouri in both matched all six numbers. arizona lottery officials said they have no information on the winter. they look at now is where it was sold at a press conference. two very lucky ticket holders. >> authorities have released the two names of two teenage girls were shot and killed during a weekend in oakland. 16 year old bobbysartan and 16 euro raquel gerstall will found 6:00 a.m. sunday morning with multiple gunshot spirit please do not have a motive for the killings now. they do not know why the gir
the white house is sending representatives to capitol hill to find a solution for the impending fiscal cliff today. republicans complained the white house has yet to provide specifics about how the president would curve the rapid growth of programs like medicare and medicaid. the president is insisting that tax rates go up on families will accede to under $50,000 a year. house speaker john banar is adamant that any tax revenues come from overhauling the tax code. clearing tax breaks and...
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>> tim geithner said yesterday that heat the white house would be willing to go off the fiscal cliff if there is no movement by house republicans. would you be willing to go off the fiscal cliff if they did not budge on the top 2%? >> i did not understand the statement in the way that you characterized it. the way i think -- it was a prediction. if there is no agreement, then the fiscal cliff pass to be dealt with. i did not see it as if they do not do this, we do that. i saw it as a statement of fact. if there is no agreement, we go over the cliff. >> the governor christie is meeting at the white house with the president. this afternoon, as he has a meeting with the speaker. [inaudible] >> christie? i thought you were talking about sandy right now. >> [inaudible] >> i do not know that. i had a meeting with governor cuomo and i met with mayor bloomberg. they showed me the documentation of the challenges they're facing in their communities. they know that i am committed to the social compact the but we have to be there for people in times of natural disaster. one of the first things i
>> tim geithner said yesterday that heat the white house would be willing to go off the fiscal cliff if there is no movement by house republicans. would you be willing to go off the fiscal cliff if they did not budge on the top 2%? >> i did not understand the statement in the way that you characterized it. the way i think -- it was a prediction. if there is no agreement, then the fiscal cliff pass to be dealt with. i did not see it as if they do not do this, we do that. i saw it as...
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fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of negotiations, it at times appears very optimistic that things will get done, then both sides very far apart. but in the final hours they get a deal done. that's the hope that despite the rhetoric what you're hearing now that this deal will happen before the end of the year. >> all right. we can only hope that there will be a compromise, this fiscal cliff will be avoided. dan lothian, thank you. not everyone seems to think it would be such a bad idea to actually go over the fiscal cliff. just one day after the treasury secretary said the white house is absolutely prepared to do just that under certain circumstances a leading economist is echoing those sentiments. >> i would not come up with a deal unless it's a really good deal before the end of the year. i would take it into next year if that means you're going to get a better deal. >> let's bring in our senior congressional correspondent dana b
fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of negotiations, it at times appears very optimistic that things will get done, then both sides very far apart. but in the final hours they get a deal done. that's the hope that despite the rhetoric what you're hearing now that this deal will happen before the end of the year. >> all right. we can only hope that there will be a compromise, this fiscal cliff will...
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fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way mathematically, if you look at the republican's proposal, that you can get to the deficit reduction that we need to with preserving the middle class tax cuts by not increasing as the republicans refuse to do the upper tier rates. there's room for discussion, but that -- >> so the 39.6%, that's not a red line? >> as far as i know and the conversations i've had, the president has said there's room for compromise, but for the red line to be drawn in the sand by republicans to say that an increase in rates on the wealthiest a
fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way...
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." >>> the fiscal cliff negotiations continue to play out like greek theater. entering from stage right, speaker john boehner issued a counter offer yesterday. from stage left a chorus of democrats who are shocked and outraged. the white house told boehner to, quote, get serious. nancy pelosi called it another assault on the middle class, seniors and our future. and senate na jorty leader harry reid took to the floor this morning. >> republicans again sided with the wealthy of this country. it won't pass. >> the gop proposal calls for $600 billion in entitlement reform, including raising the medicare age. it brings $200 billion from social security, adjusting the inflation rate and raises $800 billion in new tax revenue by reforming the tax cut and closing loopholes. the plan rejects specifically raising tax rates, but it is significant that john boehner has gotten his entire leadership team, including congressman eric cantor, kevin mccarthy and even former vice presidential nominee and budget hawk paul ryan to publicly sign their names to a plan that through c
." >>> the fiscal cliff negotiations continue to play out like greek theater. entering from stage right, speaker john boehner issued a counter offer yesterday. from stage left a chorus of democrats who are shocked and outraged. the white house told boehner to, quote, get serious. nancy pelosi called it another assault on the middle class, seniors and our future. and senate na jorty leader harry reid took to the floor this morning. >> republicans again sided with the wealthy...
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legislative days before going off a cliff. >> the political theater over the fiscal cliff. >> mr. obama sends his chief negotiator. >> treasury secretary tim geithner. >> who was on capitol hill right now. >> reaching out to capitol hill. >> the push is on to get a deal. >> no substantive progress has been made in the talks. >> literally no progress. >> bad news, bad news, bad news. >> this is the moment of posturi posturing. >> a lot of posturing. >> until we hear good news. >> the framework of the deal is beginning to emerge. >> i'll do whatever it takes to get this done. >> we have a debt crisis. >> i'll do anywhere and do whatever it takes. >> all eyes on the white house. >> they're going to get right up to cliff on new year's eve. we're all going to be hugging cliff. >> it's like when a fish show starts. the crowd -- >> i hope nobody catches that reference. >> all eyes on the white house. >> together again. >> what's his name? >> table for two. >> don't help me, don't help me. >> mr. romney goes to washington. >> mitt romney makes his way to the white house. >> the political
legislative days before going off a cliff. >> the political theater over the fiscal cliff. >> mr. obama sends his chief negotiator. >> treasury secretary tim geithner. >> who was on capitol hill right now. >> reaching out to capitol hill. >> the push is on to get a deal. >> no substantive progress has been made in the talks. >> literally no progress. >> bad news, bad news, bad news. >> this is the moment of posturi posturing. >>...
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new research on the white house plan to avoid the so-called fiscal cliff is raising concerns about how much the tax hikes can do to keep the economy afloat. the edover an influential financial paper he says america needs to be focused on. a case showing the potential down sides of winning the lottery. we'll detail the case of a man who struck it rich big time, and then was found dead and buried under a concrete slab in someone's backyard. now could the woman accused of stealing his cash and killing him wind up a free woman? "kelly's court" takes a look. >> i would never hurt that man. he knows, everyone knows i would never hurt that man in any way. t from a legal settlement or annuity over 10 or even 20 years? call imperial structured settlements. the experts at imperial can convert your long-term payout into a lump sum of cash today. and i'm here to tell homeowners that are 62 and older about a great way to live a better retirement. it's called a reverse mortgage. [ male announcer ] call right now to receive your free dvd and booklet with no obligation. it answers questions like how a
new research on the white house plan to avoid the so-called fiscal cliff is raising concerns about how much the tax hikes can do to keep the economy afloat. the edover an influential financial paper he says america needs to be focused on. a case showing the potential down sides of winning the lottery. we'll detail the case of a man who struck it rich big time, and then was found dead and buried under a concrete slab in someone's backyard. now could the woman accused of stealing his cash and...
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the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the tax hikes for the wealthy expired.
the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it...
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has the white house made any specific plans on a face to face meeting on this fiscal cliff, leaders talking in the same room, anybody? >> reporter: no. not that i know of at least. and i checked just a short time ago. not that i know of. but i got to tell you, those things are not always productive. things seem to get done better at the staff level. the last time the president spoke to speaker boehner on wednesday night and said bottom line tax rates, you have to agree to let tax rates go up. ball is in the republicans' court to come back and offer a counterproposal. they're outraged because they want more spending cut s. so the white house is looking to see what they'll come back with, on spending cuts and on tax rates, and we're all waiting on that now. >> okay. we -- for lack of a countdown clock, what, 13 days now or something? >> reporter: we have until the end of the year so -- >> before they go on vacation, though, yeah. okay. thank you. >> reporter: they can stay in town. if they don't get it done, they have to stay. >> thank you very much. what's next for the fiscal cliff debate? r
has the white house made any specific plans on a face to face meeting on this fiscal cliff, leaders talking in the same room, anybody? >> reporter: no. not that i know of at least. and i checked just a short time ago. not that i know of. but i got to tell you, those things are not always productive. things seem to get done better at the staff level. the last time the president spoke to speaker boehner on wednesday night and said bottom line tax rates, you have to agree to let tax rates go...
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it's expected they will talk about the fiscal cliff. there is also a lot of growing speculation there may be a role for romney in the obama administration. >> dozens of new york public schools victimized by looters in the aftermath of super storm sandy. the city reports 30 schools targeted including one in the rockaways and queens where nearly a hundred ipads and i macs were stolen. >> terrible. >> the looting losses rbt covered by insurance. >> clothes as eccentric as her music. yoko ono with a new line from a sketch she drew for her and john lennon's wedding. they were designed to celebrate john lennon's hot bod. tank tops with nipple cutouts, buttless pants which we are not going to show you. really. interesting. >> two words i thought you would never say. buttless pants. >>> president obama has dispatched one of his top money men to cut a deal with lawmakers. we are talking about that coming u. yep. the longer you stay with us, the more you save. and when you switch from another company to us, we even reward you for the time you spe
it's expected they will talk about the fiscal cliff. there is also a lot of growing speculation there may be a role for romney in the obama administration. >> dozens of new york public schools victimized by looters in the aftermath of super storm sandy. the city reports 30 schools targeted including one in the rockaways and queens where nearly a hundred ipads and i macs were stolen. >> terrible. >> the looting losses rbt covered by insurance. >> clothes as eccentric as...
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fiscal cliff hits december 31. smack dab in middle of this vacation. he snub hawaii, body surfing. >> kimberly: conduct unbecoming. he said in the last 30 days he got woke up in one debate. other than that, he is kicking it on the "the view." check me out. pinch with a limp. >> brian: i believe he knows it's his economy now. clearly. he goes on vacation. if this is done he is not body surfing. he knows he will be tortured and ongoing katrina. john boehner is frustrated after a closed door meeting with geithner. >> eric: brian's point, vacation is on because president obama knows he has a deal. >> dana: i don't think -- well, one, the present doesn't have a spending cut plan. why is everyone looking at us. where is your plan, sir? now the democrats are starting to realize wait, i think they are on to us. president obama sacrificed going to hawaii with his family. going to stay behind. they will fawn over him for not going to hawaii. >> bob: that happened last year. if you accept the bush tax cut last time. family went off and obama stayed behind. it's t
fiscal cliff hits december 31. smack dab in middle of this vacation. he snub hawaii, body surfing. >> kimberly: conduct unbecoming. he said in the last 30 days he got woke up in one debate. other than that, he is kicking it on the "the view." check me out. pinch with a limp. >> brian: i believe he knows it's his economy now. clearly. he goes on vacation. if this is done he is not body surfing. he knows he will be tortured and ongoing katrina. john boehner is frustrated...
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treasury secretary's geithner's presentation of the white house's proposal to avoid the fiscal cliff falls in line with that. the headline is $1.6 trillion in new taxes multi-year stimulus package starting with at least $50 billion in 2013 alone and the white house also wants the ability to raise the debt limit permanently unless two-thirds of congress vote against it. something also attached, about $400 billion in spending cuts not enough for republicans. >> i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. going over the fiscal cliff is serious business and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> the white house says they are willing to do tough things to compromise, so now it's time for republicans in washington to ask the wealthiest americans to pay higher tax rates. >> asking for a political price be paid in order for congress to do its job to insure that the united states of america pays its bills and does not default for the first time in its history is deeply irres
treasury secretary's geithner's presentation of the white house's proposal to avoid the fiscal cliff falls in line with that. the headline is $1.6 trillion in new taxes multi-year stimulus package starting with at least $50 billion in 2013 alone and the white house also wants the ability to raise the debt limit permanently unless two-thirds of congress vote against it. something also attached, about $400 billion in spending cuts not enough for republicans. >> i'm disappointed in where we...